Although the world’s payment and financial settlement networks are rarely in the news, whoever controls them has enormous economic and political power. As an example, the fact that US dollar […]
Ten years after the failure of Lehman Brothers, the conventional narrative is that the bank failed because of the US real estate bubble and the collapse in the market for […]
Settlement of securities trades matters. The world’s market for shares and bonds is now worth $150trn, almost double the $90trn global money supply. The keeping of accurate accounts of securities […]
Bitcoin tracker funds threaten a clash by bringing together two fundamentally incompatible financial systems, says one former investment banker. Bitcoin exchange-traded funds (ETFs) are still on the drawing board: as […]
The BIS says the underpinning of trust in cryptocurrencies like bitcoin is fragile. Cryptocurrency supporters argue the opposite—past glitches have helped make bitcoin stronger than ever. ‘The underpinning of trust […]
For any investor exposed to bitcoin’s wild price movements during the closing months of 2017, a reliable and liquid hedging tool must have been top of a Christmas wish list. […]
By launching in competition to government-issued fiat currencies, cryptocurrencies are a new version of private money, an asset class with a long tradition, says Lawrence H. White, a professor of […]
If cryptocurrencies have a natural tendency to polarise opinion between their supporters and their critics, there’s one topic guaranteed to send temperatures rising—the energy consumption associated with the maintenance of […]
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